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Answer» What is Union Bank of the Philippines mean? The Union Bank of the Philippines, Inc., more commonly known as UnionBank, is one of the Universal Banks in the Philippines. UnionBank is a partnership among the Aboitiz Group, Insular Life and Social Security System. It started operations in 1981 and became a commercial bank on January 19, 1982. In July 1992, UnionBank was granted the license to operate as a universal bank. reference
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